PYMNTS

OCTOBER 16, 2018

So, it is in far-flung corners of the globe where, in recent days, regulators and cross-border efforts have promoted a bit of cross-pollination between tech-savvy upstarts and more entrenched players in the financial arena. At times, that collaboration even moves with a bit of regulatory underpinning.

Fintech 188

Fintech Regulation cryptocurrency Innovation 188

PYMNTS

JUNE 10, 2016

As a general rule, most startups aren’t too happy when the regulator comes around, and it is rarely indicative of good news. And while that is bad news for a startup like Uber, as it turns out, instinctive fear of the regulator is not an endemic condition among startups. Kennedy School of Government.

Regulation 100

Regulation National Austin Fintech 100

PYMNTS

JULY 30, 2018

Virginia Senator Mark Warner, vice chairman of the Senate Intelligence Committee, released a policy paper detailing 20 options for the government to start regulating big tech a lot more closely. In fairness to Facebook, it is far from the only target of the regulations. The Suggested Regulations. What It Targets (and Why).

Regulation 101

Regulation Policies social media Data 101

Insights on Business

MARCH 5, 2019

Reducing costs but appeasing regulators seems like an oxymoron, yet, many AML compliance and operations leaders are being asked to do just that. The question is, how to do this, while keeping the regulators happy? Even better, regulators have recently begun encouraging the application of these techniques.

Regulation 70

Regulation Compliance Analysis Innovation 70

PYMNTS

MAY 16, 2020

The patent application indicates that Visa would deploy the system in partnership with government central banks, which it referred to as “central entities” in the filing. A central entity may be a central bank which regulates a monetary supply,” the company wrote. “A A central entity may implement a monetary policy and issue currency.

System 320

System blockchain Regional Security 320

Abrigo

MARCH 3, 2023

Introduction Check fraud is alive and well As we think about the evolution of banking and the innovative ways to move money, writing checks does not come to mind as a frequent transfer method. As mentioned, fraud is one of the eight FinCEN National Priorities and should be included in your financial institution’s AML/CFT risk assessment.

Fraud 195

Fraud United States Trends Software 195

CFPB Monitor

MARCH 15, 2022

The complaint references the California Attorney General’s failed attempt to invalidate the FDIC’s Madden -fix rule which is codified at 12 C.F.R. While non-bank participants have been the focus of these state attacks, bank participants could also face increased scrutiny from their regulators. Section 160.110(d). Section 7.4001(e).

California 78

California Innovation Utah West Virginia 78

Chris Skinner

JUNE 8, 2017

I recently hosted Nick Ogden, the founder of WorldPay and serial entrepreneur, at our Nordic Finance Innovation meetings in Stockholm and Oslo. That’s not a very healthy or competitive marketplace and Nick was discussing this with the regulators three years ago and just asked the question: what’s to stop a new clearing bank being created?

Branding 206

Branding Meeting System Regulation 206

PYMNTS

MARCH 18, 2019

But with education, employment, criminal and other records being heavily regulated and difficult to gather, verifying consumers can be a time-consuming and expensive process. For more thorough background check reports, Authenticating will refer customers to trusted industry leaders.

Fraud 108

Fraud Knowledge Base Regulation Data 108

CFPB Monitor

MAY 7, 2020

While most of the report recycles information about which we have previously blogged, it does contain the following noteworthy information: The section of the report on “Innovations in access to credit” includes a subsection about “providing adverse action notices when using artificial intelligence and machine learning models.”

Lending 78

Lending Report FDIC Policies 78

PYMNTS

DECEMBER 9, 2019

It’s a national imperative,” said Hundt, leader of the agency from 1993 to 1997, on “ Squawk on the Street.” The regulators felt that the merger could adversely impact wireless competition, and ultimately harm consumers. Building out 5G networks is imperative to the U.S., He added that there are two ways the U.S.

US 130

US Mobile Regulation Meeting 130

PYMNTS

JULY 16, 2019

Across a trio of hearings , Facebook was grilled about Libra , the cryptocurrency program that has been increasingly drawing scrutiny from regulators. He said there has been a “less open” environment that has become “hostile to innovation and entrepreneurship.” Cicilline noted there have not been challenges from antitrust regulators.

Rhode Island 100

Rhode Island Google Apple Regulation 100

PYMNTS

NOVEMBER 20, 2019

Here’s the news peg upon which this latest PYMNTS discussion with Cohen hung: the Financial Action Task Force (FATF), a respected and influential global standards body that deals with AML issues, has published guidance on how its 37 members should regulate cryptocurrency exchanges. Travel Rule. Better Use Cases.

cryptocurrency 124

cryptocurrency Regulation Maine Payments 124

PYMNTS

MARCH 29, 2017

Once again, the lack of oversight, regulation and the potential for fraud in the broader bitcoin space worked against the proposed ETF. While the news isn’t exactly unexpected, the SEC’s calls for regulation and oversight are additionally sobering given other developments brewing in the bitcoin ecosystem.

Bitcoin 100

Bitcoin Regulation Security Fraud 100

PYMNTS

SEPTEMBER 18, 2020

The firm, in addition to KPMG, EY and PwC, had been cautioned by regulators that their companies had to break off their consulting divisions from their audit arms. What Innovators Can Learn from Netflix . Eateries have been combating chargeback fraud, which is also referred to as friendly fraud , for years. In the U.S.,

Fraud 141

Fraud Apple California Innovation 141

PYMNTS

SEPTEMBER 11, 2018

The Dubai Financial Services Authority (DFSA) and the Monetary Authority of Singapore (MAS) have signed onto efforts “that provide a framework for cooperation and referrals between the innovation teams of each authority.” There are 180 partnerships in place already, said Xero, with a roster that includes Barclays and National Australia Bank.

Fintech 161

Fintech Big Data Tools Management 161

CFPB Monitor

SEPTEMBER 30, 2020

Section references are to the California Civil Code unless otherwise specified. b) of New York’s student loan servicer regulations). The Ombudsman has authority to request and compile information provided by a student loan servicer to effect its duties (including national banks, to the extent not preempted).

California 148

California Policies Regulation Payments 148

Gonzobanker

FEBRUARY 1, 2024

For the bankers we talked with, acknowledging challenges—think NIM, credit, regulation, election uncertainty, unemployment and CRE—while portraying resilience created quite a few compelling narratives throughout the event. Five Hundred? (Oh Joint presentations between bankers and fintechs abounded, showcasing collaborative initiatives.

Conference 88

Conference FDIC Arizona Industry 88

PYMNTS

MAY 8, 2020

The prevailing sentiment, as the crisis heads into its third month, is that more innovative government programs will be necessary to provide any meaningful relief. Other ideas include more government action regarding competitive regulation. The idea of running a program through a banking system — there’s an inherent inequality there.

Maine 142

Maine Groups San Francisco Lending 142

CFPB Monitor

MAY 3, 2021

The True Lender rule clarifies when, under existing law, a national bank is the “true lender” that makes a loan in the context of an arrangement between the bank and a non-bank entity that facilitates or services the loan. Dr. Charles W.

North Carolina 60

North Carolina Lending National District of Columbia 60

CFPB Monitor

MAY 22, 2020

The guidance approves the use of “innovative technology or processes for customers who may not meet a financial institutions traditional underwriting standards” (referencing the December 2019 interagency statement that recognized the benefits of using alternative data in credit decisions). Federal law (12 U.S.C.

FDIC 78

FDIC Policies Lending Guidelines 78

Abrigo

DECEMBER 10, 2019

According to the National Council on Aging (NCOA) this heartless crime is most likely under-reported due to the victims’ fear, shame and embarrassment. What’s now being referred to as the “Age Wave”, 10,000 baby boomers are turning 65 every day until 2030, creating an even larger pool of potential victims for fraudsters and scammers.

Fraud 284

Fraud Study United States Training 284

CFPB Monitor

SEPTEMBER 24, 2019

In Madden , the Second Circuit ruled that a purchaser of charged-off debts from a national bank was not entitled to the benefits of the preemption of state usury laws under Section 85 of the National Bank Act (NBA).

Colorado 60

Colorado National Policies Lending 60

PYMNTS

JANUARY 20, 2020

It was also rife with innovation that took payments to new physical and digital endpoints. The 2020s, Fabara told Webster, will see a rapid acceleration of these new digital payment flows by consumers and businesses, as innovators create new opportunities for commerce at those new touchpoints.

Security 168

Security Fraud Risk Management Payments 168

CFPB Monitor

NOVEMBER 22, 2022

In particular, the report’s recommendations deserve attention because they are likely to influence future actions by the federal banking regulators and the CFPB. (The The report is also worthwhile reading for its discussion of the role of fintechs and other non-banks in providing consumer financial services and how that role has evolved.).

Fintech 78

Fintech Report Data Lending 78

Independent Banker

NOVEMBER 30, 2022

Clockwise from top left: Grand Ridge National Bank, Wheaton, Ill.; In our annual workplace survey, employees of ICBA’s best community banks to work for told us they benefit from engaging cultures, opportunities for advancement and innovative benefits. He always refers to us as his coworkers. Grand Ridge National Bank.

Community Bank 169

Community Bank Community Montana Leadership 169

PYMNTS

MARCH 31, 2017

For a second time, it was the lack of oversight, regulation and the potential for fraud in the broader bitcoin space that worked against the proposed ETF. Still, the SEC’s repeated calls for regulation and oversight are sobering given other developments brewing in the bitcoin space. Hard fork, anyone?

Bitcoin 100

Bitcoin blockchain Capital Regulation 100

Gonzobanker

DECEMBER 17, 2021

Some interesting finalists would be: M&T and People’s United Old National and First Midwest Webster and Sterling Columbia Bank and Umpqua. This is an innovation-seeking franchise that has built a solid brand and never got over its skis in execution. Congrats on a brave move and national recognition Jim! 82% to over 2.3%

Fintech 143

Fintech Strategy Leadership Lending 143

CFPB Monitor

SEPTEMBER 9, 2020

Ballard Spahr LLP has submitted a comment letter to the OCC in support of its proposed rule , “National Banks and Federal Savings Associations as Lenders” (the “Proposed Rule”). Three virtually identical Federal Interest Statutes govern interest that may be charged by Banks: Section 85 of the National Bank Act (“NBA”), 12 U.S.C. §

FDIC 78

FDIC National South Dakota Lending 78

Abrigo

NOVEMBER 11, 2021

The June 2021 release of the Financial Crimes Enforcement Network ( FinCEN) Priorities makes this clear in naming cybercrime as one of the eight national anti-money laundering and countering the financing of terrorism (AML/CTF) priorities. This is a classic layering method using innovative technology. financial institutions.

Fraud 195

Fraud cryptocurrency System Trends 195

Abrigo

NOVEMBER 11, 2021

The June 2021 release of the Financial Crimes Enforcement Network ( FinCEN) Priorities makes this clear in naming cybercrime as one of the eight national anti-money laundering and countering the financing of terrorism (AML/CTF) priorities. This is a classic layering method using innovative technology. financial institutions.

Fraud 195

Fraud cryptocurrency System Trends 195

PYMNTS

JULY 3, 2017

Earlier this month, NACHA (the National Automated Clearinghouse Association) sent its Government Relations Advisory Group on its annual pilgrimage to Capitol Hill. The CHOICE Act rolls back regulations that Sullivan said can pin down a community bank and prevent it from serving its function. Distributed Ledger Technology.

Payments 113

Payments Bitcoin Compliance Community Bank 113

PYMNTS

APRIL 21, 2017

At the time, “future stuff” was widely thought to be a reference to augmented reality technology. But with the amount of time it takes to design a vehicle (even one that needs a human to drive it), the low margins and high regulation, a fully realized Apple Car is likely a long-term goal, if it even is a goal at all.

Apple 115

Apple California Software Technology 115

PYMNTS

JUNE 17, 2016

You want to buy them out,” referring to the banks. Blockchain technology is quite innovative. Some of the most important FinTech innovations, like mobile banking and check capture, aren’t replacing banking, but making it better. Harder work than a breathless interview on national television.

Bitcoin 100

Bitcoin Lending blockchain Fintech 100

William Mills

FEBRUARY 28, 2017

One is the 6th annual Bank Innovation 2017 , March 6-7 in San Jose, Calif., Another upcoming event on my radar is the MBA National Technology in Mortgage Banking Conference & Expo on March 26-29 in Chicago, which is always a great venue to learn about emerging technologies and the impact of new regulations on the mortgage industry.

Strategy 40

Strategy San Jose Conference Indianapolis 40

Perficient

MAY 21, 2021

Users can learn from trial and error with the logs to reference in the future, as needed. Technology Stack: Flask, SQLAlchemy, Bootstrap, ForeignKeys, Jinja | APIs Used: Used data from “California regulations of possibly harmful products”, which was a CSV file. More About Celeste Rowe’s Bright Paths Project: Grow Better.

Milwaukee 348

Milwaukee Software Course Detroit 348

CFPB Monitor

JANUARY 12, 2017

Dissatisfied with the ineffectiveness of the CRA as a means of asserting Congressional oversight over agency rulemaking, the House of Representatives (the “House”) recently passed a CRA reform measure known as the Regulations from Executive in Need of Scrutiny Act of 2017 (the “REINS Act”). 114-214, pt. 1, at 10 (2015).

United States 60

United States Examples Regulation Report 60